Summary
If you make ₱ 2,987,712 a year living in Philippines, you will be taxed ₱ 866,988. That means that your net pay will be ₱ 2,120,724 per year, or ₱ 176,727 per month. Your average tax rate is 29.0% and your marginal tax rate is 34.7%. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of ₱ 100 in your salary will be taxed ₱ 34.67, hence, your net pay will only increase by ₱ 65.33.
Bonus Example
A ₱ 1,000 bonus will generate an extra ₱ 653 of net incomes. A ₱ 5,000 bonus will generate an extra ₱ 3,267 of net incomes.